HOW LONG OF A TERM CAN I LEASE FOR?
Terms range from 12 months to 60 months. We can extend to 84 months on certain equipment
WHAT ARE YOUR CREDIT CRITERIA?
The business must maintain a satisfactory payment history with its suppliers. The
requirements of the business banking relation ship is to average a minimum $1,000.00
balance. We also review the personal credit of the owners of the business and look for
relatively clean credit history.
DOES ALL THE EQUIPMENT HAVE TO COME FROM
THE SAME VENDOR?
No, you may get equipment from multiple vendors.
WHO HAS RIGHTS TO WARRANTIES AND
LICENSING FOR THE EQUIPMENT?
The warranties and licensing offered by the manufacturer and/or vendor are passed on to
you.
CAN I DEFER OR SKIP PAYMENTS?
Yes, we offer deferred and skip payments as well as seasonal, and we can give you coupons
for you to use at a slow time of the year. For these programs we will need to set it up at
the beginning of the lease.
WHAT IS THE INTEREST RATE?
Typically, the interest rates are comparable to bank loans and depend on term, equipment
cost, type of equipment and credit of lessee. In most cases the entire payment can be
treated as a rental expense, which is a tax write-off.
CAN I LEASE USED EQUIPMENT, OR EQUIPMENT
COMING FROM SOMEWHERE OTHER THAN A VENDOR?
Yes, we can lease used equipment, and in some cases it can come from an end user or an
auction.
CAN I LEASE EQUIPMENT THAT I ALREADY OWN
OR RELEASE EQUIPMENT THAT I CURRENTLY HAVE WITH ANOTHER LEASING COMPANY?
Yes, in some cases we can write you a check for equipment that you already own and then
just make payments to us on a term usually up to 36 months (sale lease-back). For
equipment that you already have on lease with another company - in a case where you want a
longer term or you aren't happy with your current leasing company. The rate is generally a
little higher for these types of transactions.
IS THE LEASE TRANSFERABLE?
Yes, as long as the new lessee's credit qualifies.
WHEN DO MY PAYMENTS START?
In most cases we collect the 1st and last payment at lease signing, your next payment will
be approx. 30 days after the equipment has been delivered.
CAN I LEASE SOFT COSTS OR SOFTWARE?
Yes, we can provide 100% software leases and soft costs such as training, installation and
extended warranties and support packages as part of a lease for all types of equipment.
CAN I RETURN THE EQUIPMENT AND STOP
MAKING PAYMENTS?
No, the lease is non-cancelable. You may return the equipment after all payments have been
made or you may get a discount for paying off early.
DO YOU DO ANY LEASING TO NEW BUSINESSES
OR START-UPS?
Yes, we do leasing for new business's established less than 2 years. We also do
Start-Ups which require the owners to have previous experience in a related field and good
personal credit. These programs will have higher rates.
HOW LONG DOES THE LEASING PROCESS TAKE?
The credit approval generally takes about 24-48 hours or less, for applications up to
$100,000. Depending on applicant response time to document requests, funding usually
takes place within 5 - 10 days.
WHAT IS THE FIRST STEP IN GETTING THIS
PROCESS STARTED?
You may complete our easy on-line application
or print our online lease application, fill it out, and fax it to our fax number below.
We appreciate the opportunity to do business with you.
Phone:
260-726-8508
Email: Contact
Us
Fax: 260-726-8295
